Archive for the ‘Financial crisis’ Category
Keiser Report №12: Markets! Finance! Scandal!
Posted by seumasach on January 28, 2010
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The Sanctity of Military Spending
Posted by seumasach on January 27, 2010
Since much of that overall spending is mandatory, military spending — all of which is discretionary — accounts for over 50% of discretionary government spending. Yet it’s absolutely forbidden to even contemplate reducing it as a means of reducing our debt or deficit. To the contrary, Obama ran on a platform of increasing military spending, and that is one of the few pledges he is faithfully and enthusiastically filling (while violating his pledge not to use deceitful budgetary tricks to fund our wars)
Glen Greenwald
27th January, 2010
Administration officials announced last night that the President, in tomorrow’s State of the Union address, will propose a multi-year freeze on certain domestic discretionary spending programs. This is an “initiative intended to signal his seriousness about cutting the budget deficit,” officials told The New York Times.
Posted in Financial crisis | Tagged: Cut military spending!, End of empire, military industrial complex | Leave a Comment »
Rule by the Rich
Posted by seumasach on January 27, 2010
“The enormous damage done to the U.S. economy by jobs offshoring, work visas, and financial deregulation cannot be offset by government stimulus plans, which expand the debt burdens that are crushing Americans. The federal government’s massive budget deficits and the Federal Reserve’s easy monetary policy are setting the stage for an inflationary depression to follow a deflationary depression.”
Paul Craig Roberts
Global Research
27th January, 2010
The election of Republican Scott Brown to the U.S. Senate by Democratic voters in Massachusetts sends President Obama a message. Voters perceive that Obama’s administration has morphed into a Bush-Cheney government. Obama has reneged on every promise he made, from ending wars, to closing Gitmo, to providing health care for Americans, to curtailing the domestic police state, to putting the interests of dispossessed Americans ahead of the interests of the rich banksters who robbed Americans of their homes and pensions.
Posted in Financial crisis | Tagged: against oligarchy, End of empire, Obama agenda | Leave a Comment »
Big Banks Have Already Figured Out The Loophole In Obama’s New Rules
Posted by seumasach on January 23, 2010
John Carney
21st January, 2010
Big banks have already begun poking the holes in Obama’s new rules—holes they expect their banks to pass through basically unchanged.
Posted in Financial crisis | Tagged: Obama agenda | Leave a Comment »
Mobilize Now to Oust Bernanke as Fed Chair
Posted by seumasach on January 23, 2010
Webster Tarpley
22nd January, 2010
In the aftermath of the Massachusetts Senate vote last Tuesday, we now have a concrete fighting chance to block the reappointment of Wall Street puppet Ben Bernanke as the chairman of the Federal Reserve Board of Governors by preventing his Senate confirmation next week. This afternoon, Bernanke’s support was eroding hour by hour. The defections from the Bernanke camp feature Democratic senators who are up for reelection this coming November. They have read the tea leaves from Massachusetts, and they know the pitchforks are out, so their response is a mad rush to acquire economic populist and anti-Wall Street cover. The obvious way to do this is to turn against Bernanke and defeat him in the upcoming confirmation vote. Leading the charge late today were Senator Barbara Boxer of California and Russ Feingold of Wisconsin, both endangered Democrats. GOP Senator Corker of Tennessee is now waffling about whether or not he will support Bernanke. The pressure is building on self-styled Democratic economic populists like Sherrod Brown of Ohio to prove that they are worth something. What will Senator-elect Scott Brown do? If he votes for Bernanke, he will have betrayed his voters in less than a week, and will not survive his own re-election campaign in 3 years. Democratic majority leader Harry Reid, succumbing to overwhelming pressure from the Obama White House, announced late this afternoon that he will fall on his sword for Helicopter Ben, but this self-destructive pledge may not survive a weekend in Nevada, where the economic populist pitchforks are as finely honed as anywhere. It is therefore time for all responsible citizens and all persons of good will to mobilize in the days ahead to secure the defeat of Bernanke. Such an event would symbolize the turn of the tide against Wall Street in the struggle to decide who will pay for the current depression — the people or the bankers and hedge fund hyenas.
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Laughing all the way to the bank
Posted by seumasach on January 20, 2010
Lee Sustar
19th January, 2010
THE TIMING couldn’t have been better for the Financial Crisis Inquiry Commission, which held its first public hearings on January 13-14.
With their top employees set to enjoy huge bonuses thanks to taxpayer bailouts, the CEOs of the country’s big banks should have been in the hot seat for their role in the financial panic of 2008. The Obama administration’s proposed levy on banks seemingly would have upped the pressure, too.
Posted in Financial crisis | Tagged: no bailout, Obama agenda, stop the bailout | Leave a Comment »
The Wealth of Nations 2010
Posted by seumasach on January 10, 2010
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Posted in Financial crisis | Tagged: End of empire | Leave a Comment »
Tarpley’s Programme for Economic Reconstruction
Posted by seumasach on January 7, 2010
30 MILLION PRODUCTIVE JOBS TO REBUILD US INFRASTRUCTURE, INDUSTRY AND
AGRICULTURE: THE PROGRAM TO END THE ECONOMIC DEPRESSION
by Webster G. Tarpley
The US and the world are gripped by a deepening economic depression. There is no recovery and no automatic business
cycle which will revive the economy. This bottomless depression will worsen until policies are reformed. The depression
results from deregulated and globalized financial speculation, especially the $1.5 quadrillion world derivatives bubble.
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GEAB report-Spring 2010-A new tipping point of the global systemic crisis
Posted by seumasach on December 25, 2009
Leap/E2020 obviously believe, as we do, that rumours of the death of the Euro are greatly exagerated. This is a welcome counterblast to the catastrophist perspectives for Europe of the Ambrose Evans-Pritchard and others. As it happens their doomsday scenario does apply precisely to the anglosphere where we can boast a unique cocktail of bankrupt banks, endless “defence”, i.e. war, expenditure, depleted productive base, trade deficts, government debt, personal debt, company debt, skilled labour shortages, poor public health and low educational achievement allied to a complete inability of anyone at all to confront this appaling reality.
Posted in Financial crisis | Tagged: euro | Leave a Comment »
Zero Corner, Debt Costs & Isolation
Posted by seumasach on December 25, 2009
Jim Willie
December, 2009
Think isolation. Think monetization. Think trapped. Think Catch-22, no remotely viable option. Think motive for propaganda. Think end of the road in a gigantic USTreasury bubble, in the process of discredit. Think last resort of monetization, due to the absence of bidders at USTreasury auctions. Think pressure like a vise. The USGovt is in a great big bind and chooses not to discuss it. As European nations ponder the plight of sovereign debt default, the United States compares an order of magnitude worse from deeper insolvency. A default closer to home is considered unthinkable. So was a broad mortgage market breakdown. So was an endless housing decline. So was an insolvent broken banking system. So were consecutive $1 trillion federal deficits. All were forecasted here.
Posted in Financial crisis | Tagged: dollar collapse | Leave a Comment »
Most expensive war in American history; US burn rate $5m every hour in Afghanistan
Posted by seumasach on December 20, 2009
18th December, 2009
The Pentagon has an evocative term for the level of spending on a war: burn rate. In Afghanistan, it has been running at around $5 million every hour for much of the year. The burn rate will begin going up next week when the first of an additional 30,000 US troops arrive.
Posted in Afghanistan, Financial crisis | Tagged: "War on Terror", dismantle military-industrial complex | Leave a Comment »
In These New Times 